Chairman's AGM Statement

TBI PLC
6 August 1999

Contact             Keith Brooks, Chief Executive
                    Caroline Price, Finance Director
                    TBI plc                                 0171 355 2345

                    David Bick              
                    Holborn Public Relations                0171 929 5599
                                               [e-mail]

                                   TBI plc

                                AGM STATEMENT

In his address to shareholders at the Annual General Meeting to be held later
today, Stanley Thomas, the Chairman, will say:

'In a momentous year of change for the group, we have become a highly focused
operator and manager of airports and airport services.  We now have the base
from which to develop as a major player in the global airport market.

'In the first quarter of the current year, we have seen further growth in
passenger numbers at our airports: Belfast, our largest airport is up 12%; and
Cardiff International is up 7%.  Overall, trading to date is in line with our
expectations and we look forward to another successful year.

'As we announced on 2 August, the circular giving details to shareholders of
the proposed acquisition of AGI will be published this month.  The purchase
consideration is US$143.4 million of which US$45.4 million will be in cash and
US$98.0 million will be satisfied by the issue of shares.  AGI has equity
stakes and management and services contracts around the world including in
Australia, North and South America and the UK, where it owns a 25% stake in
London Luton airport.  TBI as enlarged by AGI will be a genuine world force in
airport ownership and operation.  Significantly, a number of the vendors of
AGI will become shareholders in TBI.'